ASB MAGAZINE: As reported (here) VF Corporation (NYSE: VFC) announced that it has completed its acquisition of Supreme®, a privately-owned global streetwear brand, for an aggregate base purchase price of US$2.1 billion subject to customary adjustments for cash, indebtedness, working capital and transaction expenses. As a result of the transaction, Supreme® has become a wholly owned subsidiary of VF Corporation.
The acquisition of the Supreme® brand accelerates VF’s consumer-minded, retail-centric, hyper-digital business model transformation and builds on a long-standing relationship between Supreme® and VF, with the Supreme® brand being a regular collaborator with VF’s Vans®, The North Face® and Timberland® brands.
Supreme® is expected to be modestly accretive to VF’s revenue and adjusted earnings per share in fiscal 2021. The Supreme® brand is expected to contribute at least $500 million of revenue and $0.20 of adjusted EPS in fiscal 2022.
VIA PRESS RELEASE